Skip to content
Edit post

World Bank says 1.8 million more Ukrainians living in poverty since 2020

by Nate Ostiller May 30, 2024 11:55 PM 2 min read
An elderly woman receives bread at a humanitarian aid distribution point in Kramatorsk, Donetsk Oblast, on Dec. 24, 2022. (Andriy Andriyenko/SOPA Images/LightRocket via Getty Images)
This audio is created with AI assistance

The World Bank said that 1.8 million more Ukrainians are living in poverty than in 2020, in a report released on May 29.

The report was based on a survey conducted in collaboration with the Kyiv International Institute of Sociology (KIIS). It found that 9 million Ukrainians, out of a total estimated population of 32 million, were living in poverty.

While the situation is dire, the World Bank said it would be much worse if Ukraine had not received foreign aid to help pay for pensions and salaries.

"If international partners, especially the U.S., had not crowded in resources specifically tailored to these social expenditures, then there would have been three million more people in poverty," Arup Banerji, the World Bank's regional director for Eastern Europe, told Reuters.

Around 25% of Ukrainians did not have enough money to buy food at some point in June 2023, the survey found.

The loss of employment was one of the main factors leading to the increase in poverty, the World Bank said. As many as 20% of people employed before the beginning of Russia's full-scale war reported losing their jobs since February 2022.

The Ukrainian government has nonetheless been able to keep most services running, even in areas with ongoing fighting, which the World Bank said was largely due to external funding.

Banerji said that ending the war and ensuring security was the priority, but also praised the Ukrainian government for its work stabilizing the economy and maintaining essential services.

"There can be no economic prosperity or economic growth without physical security," Banerji said.

"But I've never seen a government that has done so much with so little," he added.

Reuters: World Bank financing arm plans to invest $1.9 billion in Ukraine
The private financing arm of the World Bank plans to invest $1.9 billion in projects in Ukraine over the next 18 months, Reuters reported on April 22.

News Feed

5:15 AM

Media identifies nearly 85,000 Russian soldiers killed in Ukraine.

According to the outlets' conclusions for the year, 2024 will likely mark the "war's deadliest year," with a current count of over 20,000 deaths confirmed over the past 12 months — although final conclusions cannot yet be made as data on casualties continues to emerge.
11:17 PM

Zelensky meets with CIA director in Kyiv.

President Volodymyr Zelensky said on Dec. 21 that he met with CIA Director William Burns in Ukraine, marking a rare public acknowledgment of their discussions during Russia’s full-scale invasion.
4:16 AM

IMF approves $1.1 billion in funding for Ukraine.

The IMF approved the $1.1 billion tranche after completing its sixth review of the Extended Fund Facility (EFF), a plan to provide Ukraine with over $15 billion in budget support over four years.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.